Volume 1
Book Reviews
Marginal Costs with Wings a Ball and Chain Pipelines and Institutional Foundations for the U.S. Gas Market
The United States has highly competitive gas markets (spot and futures), showing prices in recent years that have definitively diverged from world oil prices. Those gas markets were not “built” in the manner of administered electricity markets. Rather, they were the result of a revolution in federal pipeline regulation designed purposely to free the gas…
Back Matter
Designing the European Gas Market: More Liquid & Less Natural?
Designing a gas market is defining how the commodity, the transmission and ancillary services are traded. The European Union has built the commoditization of natural gas through the socialization of several costs of trade. This choice aims at obtaining more liquid markets through the creation of virtual hubs of trade. These virtual hubs ignore most…
Back
German Nuclear Policy Reconsidered: Implications for the Electricity Market
In the aftermath of the nuclear catastrophe in Fukushima-Daiichi, German nuclear policy has been reconsidered. This paper demonstrates the economic effects of an accelerated nuclear phase-out in Germany on the European electricity market. An optimization model is used to analyze two scenarios with different lifetimes for nuclear plants in Germany (phase-out vs. prolongation). Based on…
Editorial
Cost-effectiveness and Economic Incidence of a Clean Energy Standard
A Clean Energy Standard (CES) is a flexible, market-based policy instrument that could be adopted to reduce greenhouse gas emissions from the U.S. electricity system over time. This paper uses several well-known energy system and electricity models to analyze a CES that reflects broad principles outlined in President Obama’s January 2011 State of the Union…
Impacts of Intermittent Renewables on Electricity Generation System Operation
All power generation technologies leave their particular imprint on the power system that they belong to. Wind and solar power have only recently reached significant levels of penetration in some countries, but they are expected to grow much during the next few decades, and contribute substantially to meeting future electricity demand, see e.g. European Commission…